Marginal note:Fixing record date
766 (1) For the purpose of determining
(a) shareholders entitled to receive payment of a dividend,
(b) shareholders entitled to participate in a liquidation distribution, or
(c) who is a shareholder for any other purpose except the right to receive notice of, or to vote at, a meeting,
the directors may fix in advance a date as the record date for the determination of shareholders, but the record date so fixed shall not precede by more than fifty days the particular action to be taken.
Marginal note:Record date for meetings
(2) For the purpose of determining shareholders entitled to receive notice of a meeting of shareholders, the directors may fix in advance a date as the record date for the determination of shareholders, but the record date so fixed shall not precede the date on which the meeting is to be held by more than fifty days or less than twenty-one days.
Marginal note:No record date fixed under subsection (1)
(3) If no record date is fixed under subsection (1) for the determination of shareholders for any purpose for which a record date could have been fixed under that subsection, the record date for the determination of shareholders for that purpose is the date on which the directors pass the resolution relating to that purpose.
Marginal note:No record date fixed for shareholders under subsection (2)
(4) If no record date is fixed under subsection (2) for the determination of shareholders entitled to receive notice of a meeting, the record date for the determination of shareholders entitled to receive notice of, or to vote at, that meeting is
(a) the day immediately before the day on which the notice is given; or
(b) if no notice is given, the day on which the meeting is held.
Marginal note:Notice of record date
(5) Subject to subsection (6), where a record date is fixed for the determination of shareholders for any purpose, notice of the record date shall, not less than seven days before the record date, be given
(a) by advertisement in a newspaper in general circulation in the place where the head office of the insurance holding company is situated and in each place in Canada where the insurance holding company has a transfer agent or where a transfer of the insurance holding company’s shares may be recorded; and
(b) by written notice to each stock exchange, if any, in Canada on which the shares of the insurance holding company are listed for trading.
Marginal note:Exception
(6) Notice of a record date need not be given where the requirement to give the notice is waived in writing by every holder of a share of the class or series affected by the fixing of the record date whose name is set out in the central securities register at the close of business on the day on which the directors fix the record date.
- 2001, c. 9, s. 465
- Date modified: